Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
145 comments:
Sir orb sugest to buy so can long?
If it has to move up, it should hold NF 5008 & move above 5024 for further upsides.
@ilango sir - markets seems to be waiting for the verdict..
can we rely on technicals??
Dear gb
yor comments and your intution. What would you say, as i see your intution is very strong.
Sir or Option experts.
1. I bought 5100 put when nifty was trading at 5090. Is that the correct way to buy put. Same strike price where nifty is trading or instead I should have bought 5000/5200 put.
2. If i have to book profit, which is better strategy ? buy put or keep put and buy nifty ?
Off Topic: Everybody keep broker phone number, etc ready. Here i electricity cut, then back, now cut again. So be prepeared for net problem, electricity problem, etc.
@ Obsessive Lover,
Hasn't the technicals absorb the "Huge Dow Fall"...?
Follow our price alone.
For a medium term trader, the SELL is intact. But if he combines the same with a Short term, it is "Oversold" and waiting to bounce.
If the mkt comes to 4960 - 4980, I would feel quite comfortable to initiate some short term longs....repeat ..short term Long.
NF below 5008
nf 5012 again
nf 5016 again
till now it's like 5018 +-12 points
+ ve div in 5- minute chart.
Buy NF 5008 with a SL 15 points.
@ilango sir - got it..
last 3 days we hv had -70 points openings, and market has recovered 50 points from days low..
KG : Buy a laptop and a Net chord - v can avoid these tensions (power cut kind).
Total cost is <30k. Worthy investment. Once you buy laptop,u will not have power cut!!!
@ K Govind
it all depends on what ur objective is
i mean to say, if u r long in nifty and want to hedge , when nifty is at 5090 u better go for 5100 put, since the downward movement in nifty vl b capture in 5100 put which vl b in the money as soon nifty starts falling,
but if u dont want to hedge(or simply predicting mkt v go down without holding nifty position) 1:1 then u can buy out the money puts like 5000/4900/4800 which r available @ lower premiums..
it all dpends on what u want to do ??
Here's my reading -
RIL will go to 1040
RNRL - 64
Afternoon we may collapse one last time
End of day - short covering - Monday onwards upmove?
What say?
+ve div forming ? 3min chart...
gd
I feel we will test 4990 soon
After upmove
gb , your intutuion is very strong. I would like to go with that for today
@ilango sir - whats ur target NF for the intraday upmove??
Wealth - Please take ur own decisions. i can be wrong.
i went long..
@ Obsessive Lover,
I am updating a chart now.5050 to 5060.
ril verdict out????
supp to come on 10.30 am
Not confident of this market - Taking exist.
Overall trend still seems down / sideways.
Sitting on sidelines
Dear illango sir,
i have shorted nf 5020 wat is the stop loss
Dear gb, i feel nf will atleast test 5043++ today atleast once. I am long and will wait.
wow ril, 990
this tanking of reliance may be reaction to court verdict!
4990 ?
what a market is today. If w calculate VIX for indian market , it must be very high
gb, i told you that your intution is very strong.
Yes its not worth takin a risk on freak days.
Downside potential seem higher than upside
just put RNRL, RIL, CHAMBAL FERTILIZER, FACT, R POWER, RELACAPITAL , REL INFRA, RIIL, RPOWER, R COM on ur SCREEN
and then
UI TAMASHA UI, UI UI UI UI UI
UI TAMASHA UI UI TAMASHA
RIL? 1040?:)
RIL back to days high :O
reliance flies..
hold the longs..
verdict has come..
gb, seems like uncertainity is over for nw with ril verdict. looking forward for 5043 atleast
for me
on intraday basis
ADAG is making lower tops lower bottoms
and
RIL making higher tops and higher bottoms
GUYS TAKE UR OWN CALL
RNRL GO GAYA PAANI KE BHAAV
family MOU will not bind
natural resources belong to Nation.
verdict
@ mynac,
Thanks for the welcome. I began to overtrade madly around that time, mostly going in the wrong direction. Thanks to both mynac and AAR VEE for the links.
(The rising volatility now reminds me of a year ago - you could go wrong with both long and short if the mkt takes out your stops. Yet you can't trade without it. As Nauzer Balsara writes surviving our 'Risk of Ruin' is more important than a missed opportunity. Got to live to trade another day! So trade wisely, everyone.:)
Sucker upmove
dear ilango sir
i had sold one 5000 put
should i exit below 4960
sell one more(averge out)
BEP---88
THOUGH I CAN MAKE OUT THAT EITHER I SHOULD AVERAGE OR HOLD.
PLZ??? MAY BE IM WRONG BCOZ OF FEAR & GREED.
THANX
HI RAJA
IM QUITE WELL NOW BUT NIFTY IS NOT WELL
& I CAN C MANY PATIENTS ON BLOG :-)
Anil - Manu - One bold fool had his day.
Jai ho Bade Bhai.
Great verdict i suppose. ambani bros cannot do More 420's now.
Wealth - 5050 min upmove upto 5110
We may go down post 130 pm
gb...tusi gr8 ho...ril 1040.What should i say!!!!
ty for the mention, Ilango, I hope to make haste slowly this time around.:)
Dr.
Here all are taught to be "Patient" not to become "Patient"
Ambani brothers split their wealth with RG !!! Ordered by Supreme court.
hi Yoda
after the Option, Future practicalities
and the SAR, you are back
welcome.
you got a nice blog too.
gb, are you expecting very very negative europe opening?
ty @mok 11852206222016240633, I'm glad you like the blog.:)
You've got a good memory! lol
ftsi futures : -120, Dax -150, they had recovered but now falling again ????
gb, 4990 also touched..........!!!!
witnessing intrsting day in mkt as well as in comments section
Stop loss triggered in NF long
whats happening
are we heading to 4960 as said by sir?
Sucker upmove it was!
4969?
@ assortz
another bounty .... :)
hope you made it.
i keep the short.
Hi Mr. Illango,
All of sudden Nifty started dropping down.... What would you suggest at this point of time??
Sirisha,
Hyd
while RIL on +
hdfc bank icicibank LT & sbi pulling down
@WC
http://www.igmarkets.co.uk/cfd/
-126 points FTSE fut..
only + RIL, HUL, BPCL, ONGC
Freak days! better to stay out
I am sitting tight after a small profit with NF as guided by MASTER
gb, today is bottom day as per intution also. that's why market and world behaving like this
The trend will remain down..
now going up again ?
People will be confused today!
NEWS
Supreme court has ruling in FAVOUR of RIL by 2:1
Ilango sir..
shd be take short term long as our previous long got HIT
Sreeram
Nifty is dancing like a MAD fellow
mok 11852206222016240633 said...
only + RIL, HUL, BPCL, ONGC
Your friend listed 3 of the above 4 as "UP" yesterday for BTST.
Gautamji as u suggested today will be last day of fall for medium term,
even if we breaks 4960??
nf 5018 again
Anyone bought gold? can book profits.
my charts indicate 1740 as the tgt.. i expect it to go down
to 1540 by june 18th
the 5min bolinger is the Opening Range now
5001 5029 almost
hi RG
cant help it in this news & offshore driven stuff ???
so keep up ur good work.
remember my suggestion for a news & havoc warning system :)
Sreeram - you use Trade Tiger?
Yes Bizagar as long as 4950 holds
correction..
Ilango Sir..
Should we shortterm LONG and what will be the targets and SL
please advice
sreeram
gb, where are we headed for today?
@RG:
No, i use RKGlobal..
sreeram
@mok,
Hi..i booked shorts yesterday and carried longs :) but hedged with PUTS…so remain neutral now
Congrats for your shorts :)
nf new highs + new bottoms for today
wealth.. new highs not possible today.
New lows? Likely
Yeah Mok. It is nagging me ever since you suggested. Help me (as usual) on some material and basics. I will take it. (Kodu potta Road poduvaen)
we bounced from 4990.. once! two times wont be lucky
Sideways move today.. trend down more likely. We
may recover monday / tuesday
@ assortz
today i am with both of sir's
long with sell placed at 5050b
short with buy place at 4980
&
:)
lets see ...
may get both, in a way , neutral this way than on sidelines in a peculiar way.
Market Bid Offer Change
FTSE 100 Cash 5118.5 5120.5 -131.0
Wall Street Cash 10478 10484 -26
Spot FX GBP/USD 1.46718 1.46738 -0.01572
Barclays 303.60 303.60 0.00
Germany 30 5743.2 5750.2 -173.6
Japan 225 10354 10362 0
Spot FX USD/JPY 92.207 92.237 1.612
Ilango Sir,
Your comments on Nifty Future
Thank you
RV,
if you are there,
a little less ccbacy for today will be nice ...
:)
RIL up - Nifty Down?
Hi Mr. Illango,
Shall I initiate long in Banknifty???
Sirisha,
HYD
gb, thanks. I am going out for lunch, early today. Exhausted really! will catch you later
RIL - RNRL:
It is behind us now. I was waving the Mumbai Indian flag. Sure Bade Bhai will have his way this time. My reasons:
a. Any judegement against RIL (i.e confirming HC Verdict) is against the Govt. Big time confusion.
b. Chottu was aware and his body language was excessively defensive (aggressive?)
c. In expectation of this verdict NTPC case was adjourned - conflicting cases ?
The clinching factor
MR RAM JETHMILANI backed RNRL - enough to judged out.His refrain "you make so much money,why don't you share with your own brother" - meant he had no legal stance?
Day of the Punter?
Hi Folks,
What will be the impact of the positive judgment on Reliance? Reliance has been sluggish for so many months now and nifty has followed it.
Now will all reliance shorts start getting covered or will it still be kept open based on the negative global cues?
Yesterday's Dow 1000 point drop has surely changed the sentiment for the worse and I believe this will be the turning point for the market (though actual price action may happen couple of weeks from now).
Thanks
meanwhile FIIs/HEDGE FUNDS are busy doing dollar carry trade unwinding/selling huge amounts in cash.......fearing we may have a big fall if europe doesnt support!!!!....remember germen parliament will be voting today for greece aid...very very important vote for european markets and euro in particular
yessss ....Illango sir..can we go long in banknifty now????????
Waiting for Sir's Posting
@CM
Merkel will get the vote as shw has majority n house..
if she decided herself not to gv(remotely)
thn down freezes n EU..sure
I expect german parliament to pass the vote and french parliament has approved it today morning...euro is getting some lift now...conservatives need 44 more from 66 seats left to be declared..its touch and go there..a clear victory will support markets in afternoon....
Disclaimer: all 5200 puts gone yesterday and having 5200 calls .
Ilango Sir,
Your comments on Nifty Future
Thank you
me too sir, waiting for your opinion, as prabakar says
illango sir .....
need few words at the moment
regards
vikram
GA All.
@RG
great going , i dont know mukush bhai, but certainly know RG(Humare Bade Bhai) really i m also lift up, covered my written calls all today, no calls, holding some puts though!
@ Dr,
can u plz tell me at what price u had written 5000 put
no need to panic , mkt vl move around these levels and vl try to mark 4th up , so lets wait & watch,
if this is not possible we can have alternate plan for u
oh my god..
viren s back 2 help d souls:)
happy 2 c u..
Hi friends,
Today marks the end of my positional trade carried since a month based on some beliefs and convictions.
Hope u all benefitted from the weekly analysis’ in month of April having pointers for it.
Manu :)
Happy to be with all of u...Missed u all.
hi lango sir
in bank nifty all support break in which level we buy our short or new fresh buy
plz suggestion
regards,
alpesh
hi RV,
ofcourse, we benefitted, you opened our eyes to the trend.
[if we deviated, its a different story :) ]
keep posting today, being an interesting day.
hi manu,
hi viren..
@Ilango sir,
Learnt much more in last 4 months than in whole of my trading life of 8 years. All thanks to u .Will mail u the calculation sheet on which the ‘prophecy’ of 10/4/10 was based. Hope to get ur guidance and inputs as always.Thanks again for the windfall gains that were the result of the confidence u showed in me by posting what was laughable at that time.
Welcome viren on the Judgment day :)
sorry ilango sir
typeing mistec
@ GB
exit gold, ijust got entry at 1620 levels, i exit as per ur view, i though dont track gold much.
so dont know levels much, just followed ur advice.
thanks!
Welcome back Viren.
Welcome Saint. Miss May is born and it is time to draw her "kundali" also. Can we wait for a week end release please.
4960-4980 is the spot level that has been discussed.
4960 being 200sma, we would wait to see that.
OR see a price reversal by first closing above Hour low ema, then a close above Previous Hour high, etc to fine tune.
For Bank Nifty the last upmove started from 9202.
The double top target is 9275. One can go long there with a small SL. A faster fall below 9202 will indicate a reversal to "DOWN". Then, it would be "Sell on rises".
For Nifty, 4675 to 5400 too 9 weeks. We are in the 4th week.
ilango sir and All
GA.
@raja
must be smiling big with coming out of shorts..
@manu
will respond in a day to two
sri
even ongc gone, bpcl going
only RIL towards North ,,,
Hi RV - do you have a blog?
Hi Gautam,
Great call on the may 5th/7th lows.
Hope your july high of 5700 also comes true.
@Mok
Sincerely hope that u took benefit of my mail a month ago suggesting Nifty levels to dip to near 200dma today .
@Sri
Thanks for the mail and showing confidence in my analysis buddy.
@Piyush sharda
Thanks mate
Boy! this mkt has to go down to go up!
Anil,GB - Shorts in Copper and Silver still holding - is it ok ?
thanks for the opinion , sir,
hi sri,
seeing all today, but for satheesh busy with vacation & bonding.
@Oot RG
Hope u got benefitted from the call-RIL short term buy below 1000 s/l 950.
The vix values looks like they are ‘fix’ed .keep up the good work.
Thanks for showing confidence in me.
@RG
Add to ur already deadly arsenal- Either the news will follow the TA or it will be sweetly discounted to support the TA.
RV
yes, sincerely i had benefited.
i keep different positionals on different series.
i keep sir's 5125 short too.
thanks RV, as always.
Hi Mok, Assortz, RajaGopal.
Thanks for your wishes. :)
Very Quickly...
4987 is the all important MP pivot from 1st week of
March.Has to halt here.
If it fails to hold then 4882-4842.
Hi Sri,
So we have the full quorum. Where did you vanish? Sent you a mail also. Yeah big sigh of relief on Shorts - second time Ilango held the oxygen tube into my nose. God Bless.
@sriG
welcm back..
hope u cn c 2dy as 2dy it matters more..
nywys hw ws u trip:)
GB excellent stuff about the 7th of may.
Please keep us posted on more "turn dates"
Dear RV - remember my refrain was "if the judgement is postponed beyond 3 pm" then I will Short RIL. Yesterday I came to know it is at 10.30 - my intuition on the judgement got cemented. Held on to Bade Bhai's hand and Chottu's Leg. Chain effect...bade pulled me and I pulled Chottu ...
Bad habbit of news based trading ? (but it is part of EW)
@ RG
sorry mate dont follow metals, right now, but i am studying it in my separate time allocation part, first to understand its fundamentals and trade on technicals.
timing constraint!
@GB
Nah buddy, just happy to be a student scavenger following others blog and taking out tit bits to get my conviction.Like took from ur's 18th march post of the Gann charts and nifty corelation.
Got the 7th may date after i saw April 7th coming fruitful(i mentioned that in comments too).
It had another date of May 4th suggesting new highs ,discounted that for some TA reasons.
U have some deep knowledge of varied fields in TA world.Like to regularly read ur input on VIX,EW,GANN.Keep up the good work
Numerology/Namology ?
Anil is A - NIL, so he gets nothing
MUkesh is mu cash so he gets everything
===Broker.
@Viren,
I feel with uncertainity around the world's major economies again with clouds of political uncertainity in major countries of Europe, there will be lot of damage to the market is expected. Rupee depreciation is expected further which will result in panic offloading....so i leave it at that for your guess...
sri
NEW POST DONE
RNRL ( - 26 %%%%%%%%%%%%%%%%%%%%%%%%%% )
somebody wanna buy
isnt it a good buy
@RG
I told you...went to thiruchendur, thirunelveli, sankarankoil, madurai and last at TVM. From there returned yesterday. I conveyed your enquires to all the three madams.
But i told you on April 19 itself that May 5 is the conjunction of jupiter with Saturn and this combination gives massive destruction across global. Further now Mars in direct reaching its high destruction point..
Manu,
will try tonight..trip was good.
sri
Thanks RV.
Anil - Gold has a tgt of 2200 / 2400 by Dec (hold if you like)
and add more on dips. Dont follow me blindly. I can go wrong
Viren - Thanks Buddy good to c u!
Shr - Thanks :)
RG - I dont track Copper / Silver sorry
My next turn date could be May 18th
Daily charts have more scope for downmove
We may test 4840? I dont know if these dates will be valid
or are they just key turn dates?
4400 4200 may happen? if this last 5 wave down retraces 161%
Pl allow me this and bear with me---
@fake RG
Hope u are reading this and will remember making fun of me on a Sunday morning for predicting 5000. ‘Dekh phanda kul gaya’ .Looks like u were not wearing any ‘shorts’ under your ‘long’ coat, now u stand naked .
RV
wow
thats a socker to the guy who gave you the "eye"
:)
sir's short reco done,
going thro the long now,
may be 5025 ?
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